Apple is about to release iPhone 2.2 firmware soon. The Beta is already out.
It has Google street view, and the most requested feature: turn off auto correct. Apart from several bug fixes.
Cut and Paste is noticeably absent, which was suppose to be added in this release.
It apparently can be jailbroken, but wait till its finally release..
Guide to Unlock & Jailbreak iPhone 2G for firmware 2.1, This is already working on 2.2 beta, but may be blocked by Apple before the final release.